Maintaining a competitive edge in retail trading requires overcoming the difficulties of in-house software development, according to Arthur Azizov, the CEO and Founder of B2Broker Group. During a recent panel discussion on “Challenges of Inhouse Software Development in FinTech” at the Finance Magnates London Summit 2023, Azizov shared his perspective on the complexities of fintech software development.
Azizov emphasized the difference in perception of software products between clients and engineers. While clients focus on the front end, such as buttons and updates, engineers see the many different components that need to be updated, synchronized, and communicated among themselves. This highlights the complexity behind a seemingly straightforward user interface.
Azizov suggested that microservices architecture is a key way to manage software complexity. This approach allows individual components to be updated, replaced or removed without needing to re-release the entire product. While microservices enable targeted improvements by developers across disciplines, Azizov cautioned against excessive use in certain technologies like trading platforms, as it can increase latency and decrease speed.
Testing methodologies also play a crucial role in fintech software development. Azizov outlined a testing pipeline that includes unit tests, integration tests, regression tests, and test automation. The goal is full automation from code commit to pipeline deployment, although manual testing still has its place.
Infrastructure choices also have an impact on software development. Azizov mentioned the benefits of managed Kubernetes from major cloud providers like AWS, Google Cloud, and Microsoft Azure, as they integrate Kubernetes within their cloud infrastructure. Monitoring tools like Grafana are essential for visibility into system bottlenecks.
Other challenges in software development include hiring enough skilled developers, keeping teams aligned with Agile methodologies, and transitioning design to reusable component libraries. Azizov emphasized the need for robust hiring pipelines and ongoing training to address the scarcity of skilled personnel in the market flooded with junior developers.
Overall, Azizov painted a picture of fintech software development as a complex balancing act. However, he believes that leveraging the latest technologies and methodologies can help teams better meet the challenge and stay competitive in the market.